the daily degen 🦍(14Jul23)
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Judge Rules Ripple Sales of XRP Were Not Securities—Except to Institutions. The federal judge presiding over Ripple Lab's case against the Securities and Exchange Commission has ruled that the XRP token "is not necessarily a security on its face"—except when it was sold to raise funds from institutions.
the U.S. Department of Justice today arrested former CEO of bankrupt crypto lender Celsius Network Alex Mashinsky and filed seven criminal charges against him. At a Thursday press conference, Michael A. Brodack, special agent in charge of the Criminal Division of the New York Field Office, said that 57-year-old Mashinsky earned more than $40 million after allegedly manipulating the price of CEL, Celsius’ native digital asset, and pocketing the returns.
Coinbase's Base launches mainnet for developers, plans public rollout in August - Base, built on Optimism's software stack known as the OP Stack, functions as a rollup network. It is a secondary layer that performs off-chain computations with the goal of facilitating faster and cheaper transactions, while maintaining the security advantages of the Ethereum mainnet.
around the twitterverse…
trade ideas
trade: long ETH/ USD
after the mammoth result in the XRP case, altcoins look like they might be ready to explode with ETH leading the way. If ETH can break this resistance then we could see massive inflows into it as investors start the rotation into the riskier crypto assets. A long term target would be around $3600 while a clear fall into the range and break of the upward trend could signal that it wants to put in lower local lows.
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